Purchase of Fertilizers by Valley Mosaic is approved without restrictions by Cade

SAO PAULO-the acquisition of the North American Mosaic Fertilizer Valley was approved without restrictions by the Administrative Council for economic defense, according to the publication in the Official Gazette on Tuesday.
The unit of mining company Vale acquired by Mosaic has a production capacity of 4,800,000 tons of phosphate fertilizer and 500,000 tonnes of potassium, including five Brazilian phosphate mines, four chemical production and fertilizers and a unit of potassium in Brazil.
Vale announced in December the deal with Mosaic, which involves about of 2.5 billion reais.
"This acquisition gives the Mosaic the opportunity to benefit from growing market Brazilian agricultural ... For the Valley, the operation will ensure an important capital input and a minority position in world fertilizer business ", summarizes the opinion of Cade about the deal.
Through the transaction, the Mosaic also acquires 40% share of Fertilizer phosphate mine Valley Miski Mayo, in Peru, as well as the potassium project in Kronau, Saskatchewan, in Canada.
The Mosaic could also acquire the potassium project Colorado River, in Argentina, as part of the negotiation, but the company has not exercised the option. Also sat out of the transaction unit of nitrogen and phosphate of non-Cubatão, according to Cade.
On the other hand, the Valley will be with 11% shares of Mosaic upon completion of the deal, which may indicate up to two people to the Board of Directors of Mosaic, one of which should be an independent member.